The proposed bill would update current statutes related to the Government Property Lease Excise Tax (GPLET) by implementing several significant changes. It would prohibit the abatement of GPLET revenue designated for school districts, ensuring that these funds are preserved during the abatement period. Additionally, the bill would require government lessors to maintain a public database of GPLET leases, post lease agreements online, and include specific information about each lease, such as the county assessor's parcel number and the estimated property tax revenue foregone during the GPLET lease term. Moreover, the bill would add community college districts to the list of entities that must receive notifications regarding proposed government property improvements and mandate that notices include an estimate of the property tax revenue that will be foregone. It would also require the Arizona Department of Revenue (ADOR) to post annual GPLET tax return reports on its website and make technical changes to existing statutes. These updates aim to enhance transparency and accountability in the management of GPLET revenues while ensuring that educational institutions receive their designated funding.

Statutes affected:
Introduced Version: 15-971, 42-6202, 42-6204, 42-6206, 42-6209, 15-947, 15-961, 41-1276, 15-447, 15-943, 15-973, 15-255, 15-904, 15-766, 15-767, 37-521, 42-5029, 42-5029.02, 35-173, 42-6208, 42-18053, 42-6203
Senate Engrossed Version: 42-6202, 42-6204, 42-6206, 42-6209, 42-6208, 42-18053, 42-6203